#toobigtofail — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #toobigtofail, aggregated by home.social.
-
Meine heutige Empfehlung: "Unschuldig - Mr. Bates gegen die Post"
https://www.arte.tv/de/videos/RC-026307/unschuldig-mr-bates-gegen-die-post/
Der Hintergrund dazu ist dieser: https://de.wikipedia.org/wiki/Royal-Mail-Horizon-Skandal
Mehreren hundert Menschen wurde das Leben ruiniert, weil nicht sein konnte, was nicht sein durfte.
Tretet in Gewerkschaften und*oder in die FAU ein, so lange ihr sie nicht braucht!
#ARTE #TooBigToFail #Software #Fujitsu #RoyalMail #Post #Gefängnis #Suizid #Solidarität #FAU #Gewerkschaft
-
Meine heutige Empfehlung: "Unschuldig - Mr. Bates gegen die Post"
https://www.arte.tv/de/videos/RC-026307/unschuldig-mr-bates-gegen-die-post/
Der Hintergrund dazu ist dieser: https://de.wikipedia.org/wiki/Royal-Mail-Horizon-Skandal
Mehreren hundert Menschen wurde das Leben ruiniert, weil nicht sein konnte, was nicht sein durfte.
Tretet in Gewerkschaften und*oder in die FAU ein, so lange ihr sie nicht braucht!
#ARTE #TooBigToFail #Software #Fujitsu #RoyalMail #Post #Gefängnis #Suizid #Solidarität #FAU #Gewerkschaft
-
Meine heutige Empfehlung: "Unschuldig - Mr. Bates gegen die Post"
https://www.arte.tv/de/videos/RC-026307/unschuldig-mr-bates-gegen-die-post/
Der Hintergrund dazu ist dieser: https://de.wikipedia.org/wiki/Royal-Mail-Horizon-Skandal
Mehreren hundert Menschen wurde das Leben ruiniert, weil nicht sein konnte, was nicht sein durfte.
Tretet in Gewerkschaften und*oder in die FAU ein, so lange ihr sie nicht braucht!
#ARTE #TooBigToFail #Software #Fujitsu #RoyalMail #Post #Gefängnis #Suizid #Solidarität #FAU #Gewerkschaft
-
Meine heutige Empfehlung: "Unschuldig - Mr. Bates gegen die Post"
https://www.arte.tv/de/videos/RC-026307/unschuldig-mr-bates-gegen-die-post/
Der Hintergrund dazu ist dieser: https://de.wikipedia.org/wiki/Royal-Mail-Horizon-Skandal
Mehreren hundert Menschen wurde das Leben ruiniert, weil nicht sein konnte, was nicht sein durfte.
Tretet in Gewerkschaften und*oder in die FAU ein, so lange ihr sie nicht braucht!
#ARTE #TooBigToFail #Software #Fujitsu #RoyalMail #Post #Gefängnis #Suizid #Solidarität #FAU #Gewerkschaft
-
Meine heutige Empfehlung: "Unschuldig - Mr. Bates gegen die Post"
https://www.arte.tv/de/videos/RC-026307/unschuldig-mr-bates-gegen-die-post/
Der Hintergrund dazu ist dieser: https://de.wikipedia.org/wiki/Royal-Mail-Horizon-Skandal
Mehreren hundert Menschen wurde das Leben ruiniert, weil nicht sein konnte, was nicht sein durfte.
Tretet in Gewerkschaften und*oder in die FAU ein, so lange ihr sie nicht braucht!
#ARTE #TooBigToFail #Software #Fujitsu #RoyalMail #Post #Gefängnis #Suizid #Solidarität #FAU #Gewerkschaft
-
“In totality, the AI industry seems to have made about $65 billion in revenue (not profit!) in 2025, with I estimate about a third of that being the result of OpenAI or Anthropic feeding money to hyperscalers or neoclouds like CoreWeave, and a billions more being AI startups (funded entirely by VC) feeding money to Anthropic and OpenAI to rent their models.
Even the venture capital scale of AI startups is drastically overestimated. While (as reported by The New York Times) “AI startups” raised $297 billion in the first quarter of 2026, $188 billion of that was taken by OpenAI (which has yet to fully receive the funds!), Anthropic, xAI, and Waymo. In 2025, $425 billion was invested in startups globally, with half of that (about $212.5 billion) going to AI startups, but about half of that ($102 billion) going to Anthropic, OpenAI, xAI, Scale AI’s not-quite-acquisition by Meta, and Bezos’ Project Prometheus.
The great financial crisis was, as I’ll get into, a literal collapse of how banks, financial institutions, and property businesses operated, with their reckless speculation on a housing market that was only made possible by a craven mortgage industry incentivized to get people to sign at any cost. When people speculated that there was a bubble, articles ran saying that housing was actually cheap, that subprime lending had actually “made the mortgage market more perfect,” that the sky was not falling in the credit markets because unemployment wasn’t going to rise, that subprime mortgages wouldn’t hurt the economy, and that there was no recession coming.”
https://www.wheresyoured.at/premium-ai-isnt-too-big-to-fail/
-
"You become extensive not necessarily by being the best, but by spreading out and becoming indispensable to the system itself."
https://insights.priva.cat/p/anthropic-will-probably-survive-trumps by Carey Lening @privacat
-
For such a behemoth of a company as Microsoft, it is incredible how many failures it has put out to the world, critical or commercial. MS-DOS 4.0, Microsoft Bob, Internet Explorer 6, Zune, Kin, Lumia and Windows Phone, Kinect, Surface RT, Cortana, Band, Copilot, and every other version of Windows since Me (including Windows 11, out of privacy concerns), those are just the most glaring examples. Truly amazing, Microsoft. Truly remarkable.
-
@millerdl Really good article. The only thing that is missing is to state that once these production circles/ companies fail, they will be declared #TooBigToFail and the taxpayer will save them.
-
What if American workers decided the only ones entitled to be "too big to fail" are us – the ones whose labor built your platforms, whose attention became your product, whose data trained your models, and whose spending made you untouchable?
https://substack.com/@shaynej/note/c-184374857?r=5h4wg0&utm_source=notes-share-action&utm_medium=web#AI #AIBubble #WorkersFirst #us #TechAccountability #TooBigToFail #Leadership
-
-
After raking in billions and trillions based on the #AI #hoax, #techbro s and #CEO s are now garnering public sympathy and understanding for the fact that their profiteering will take the whole economy down.
Without a doubt, they will be #TooBigToFail and tax money will be needed to bail them and their victims out.
The workers they were trying to replace with their dumb machines will have to pay the bill. -
After raking in billions and trillions based on the #AI #hoax, #techbro s and #CEO s are now garnering public sympathy and understanding for the fact that their profiteering will take the whole economy down.
Without a doubt, they will be #TooBigToFail and tax money will be needed to bail them and their victims out.
The workers they were trying to replace with their dumb machines will have to pay the bill. -
After raking in billions and trillions based on the #AI #hoax, #techbro s and #CEO s are now garnering public sympathy and understanding for the fact that their profiteering will take the whole economy down.
Without a doubt, they will be #TooBigToFail and tax money will be needed to bail them and their victims out.
The workers they were trying to replace with their dumb machines will have to pay the bill. -
After raking in billions and trillions based on the #AI #hoax, #techbro s and #CEO s are now garnering public sympathy and understanding for the fact that their profiteering will take the whole economy down.
Without a doubt, they will be #TooBigToFail and tax money will be needed to bail them and their victims out.
The workers they were trying to replace with their dumb machines will have to pay the bill. -
After raking in billions and trillions based on the #AI #hoax, #techbro s and #CEO s are now garnering public sympathy and understanding for the fact that their profiteering will take the whole economy down.
Without a doubt, they will be #TooBigToFail and tax money will be needed to bail them and their victims out.
The workers they were trying to replace with their dumb machines will have to pay the bill. -
Is #OpenAI Becoming #TooBigToFail?
It hasn’t yet turned a profit. Its annual revenue is 2% of Amazon’s sales. Its future is uncertain beyond the hope of ushering in a godlike #artificialintelligence that might help cure cancer and transform work and life as we know it.
If the hype and hope around Chief Executive #SamAltman’s vision of the #AI future fails to materialize, it could create systemic risk to the part of the #US #economy likely keeping us out of recession.
https://www.msn.com/en-us/health/other/is-openai-becoming-too-big-to-fail/ar-AA1PEJuE -
The great thing about THIS bubble is that we don't have decades of dependency on any of the companies most exposed to loss or to their general class. They are not like the commercial banks, investment banks, and brokerages that got bailed out in 2008-9. If every chatbot died permanently tonight, most people would be fine without them and very few people would be seriously harmed. Not like banks.
-
Es wird ja schon seit längerem darüber diskutiert, dass die Geschäftsmodelle der großen #KI-Anbieter nicht wirtschaftlich sind. Was einige schon erwartet hatten: Im "Wettlauf mit China" kommen jetzt die Forderungen, der Staat solle sich bei der Finanzierung beteiligen.
Damit sind Unternehmen wir #OpenAI jetzt also endgültig #toobigtofail. Ob der US-Staat nun mit untergeht? Es wird spannend.
https://garymarcus.substack.com/p/if-you-thought-the-2008-bank-bailout
-
TIL: #TooBigToFail Banken wie die #UBS können sich günstiger Geld leihen, weil die Gläubiger davon ausgehen, dass der Staat die Bank notfalls rettet. Resultat für die UBS: Eine implizite Subventionierung von 2,6 Milliarden Franken. Auch weil die UBS deshalb höhere Risiken eingehen kann, wovon sie ebenfalls profitiert.
-
Nouveau format 40 x 60 (la feuille fait 50 x 65) et... Nouveau problème 😐.
Est ce que la partie vitrée de la table va poser problème 😬?
C'est on ne peut plus sûr 🤬!
#art #artist #enerve #cavapassercreme #toobigtofail -
US Imperialism is the ultimate violent pirate raid.
Their police state is the monopoly on force, not non-violent action, and all they do is rob the People!
How many beautiful children died because of bad foreign and domestic policies? Many innocent, beautiful lives just like this girl lost due to war and greed:
https://en.wikipedia.org/wiki/Afghan_Girl
https://www.unicef.org/social-policy/child-poverty
Precious little #Girls just like these are murdered by the hypocrites--cheats and liars all! The rich imperialists have no monopoly on beauty and certainly not on the good. The beautiful also suffer and starve in war, instability, and strife.
https://en.wikipedia.org/wiki/Killing_of_Hind_Rajab
https://www.ungeneva.org/en/news-media/news/2024/10/98914/world-must-step-girls-un-chief-says
#imperialist #USA = the arch #pirate
They stole the entire continent and beyond! #StolenLand #TooBigToFail
Welcome to the Reservation!
https://www.alternativeradio.org https://archives.infowars.com/russell-means-welcome-to-the-reservation/ #RussellMeans #AIM -
#Singapore’s #MRT is #toobigtofail but is enuf done to ⏫️ #reliability?
"-early years there hv been 11 signif #disruptions since 2011.. tunnel flooded, electrical pwr tripped, glitch in signalling, train stalled in tunnel, etc. Too many for a system tt so many r dependent on? It wld appear so.. issue abt #staffing #experience needs to be asked.. If too many at #seniorlevels r brought fr outside e industry, there cld be a serious deficit of knowledge & experience at e top"
https://www.channelnewsasia.com/commentary/singapore-mrt-disruption-east-west-line-too-big-fail-management-4672711 -
Die bewährte Aussitztaktik: Zunächst Vorgaben nicht angehen, weil teuer.
Danach jammern, dass es nicht geht, Arbeitsplätze als Geiselhaftargument und schon wird die Republik spuren.
Das Pattern ist mittlerweile bestens bekannt:
Auf #TooBigToFail ausruhen.
-
Pas d'argent magique pour le peuple qui compte les centimes, mais des monceaux d'argent gratuit pour les milliardaires.
_____
"Malgré les 55 milliards de dettes d’ #Altice, Patrick #Drahi tente de sauver ses secrets et sa fortune
Étranglé par les dettes, discrédité par les affaires de corruption, Altice lutte pour sa survie. Soucieux de conserver sa fortune, le milliardaire a décidé d’organiser lui-même le sauvetage de son groupe, en essayant de tordre le bras à ses créanciers.
Mais ses actifs peuvent-ils suffire à rembourser ses dettes ?
...
"la valeur des actifs d’Altice ne correspond pas ou plus aux 60 milliards de dollars de dettes qu’a levés Patrick Drahi pour constituer son groupe.Peu à peu, le monde financier est en train de réaliser qu’il a cédé aux sirènes de ces hommes d’affaires dont la réussite ne reposait que sur des illusions de l’argent gratuit.
Les mirages se sont dissipés, les bulles sont en train d’éclater, il ne reste que les dettes.
Dont une partie est irrécouvrable.
Furieux, les créanciers de Patrick Drahi jurent, mais un peu tard, qu’on ne les y reprendra plus."#ĿeverageBuyOut #Endettement #Economie #JunkBonds
Sinon, l'article est disponible ici ➡️ : https://mmrnmd.com/index.php/s/kCBoTDAyDcWk6bs
-
Pas d'argent magique pour le peuple qui compte les centimes, mais des monceaux d'argent gratuit pour les milliardaires.
_____
"Malgré les 55 milliards de dettes d’ #Altice, Patrick #Drahi tente de sauver ses secrets et sa fortune
Étranglé par les dettes, discrédité par les affaires de corruption, Altice lutte pour sa survie. Soucieux de conserver sa fortune, le milliardaire a décidé d’organiser lui-même le sauvetage de son groupe, en essayant de tordre le bras à ses créanciers.
Mais ses actifs peuvent-ils suffire à rembourser ses dettes ?
...
"la valeur des actifs d’Altice ne correspond pas ou plus aux 60 milliards de dollars de dettes qu’a levés Patrick Drahi pour constituer son groupe.Peu à peu, le monde financier est en train de réaliser qu’il a cédé aux sirènes de ces hommes d’affaires dont la réussite ne reposait que sur des illusions de l’argent gratuit.
Les mirages se sont dissipés, les bulles sont en train d’éclater, il ne reste que les dettes.
Dont une partie est irrécouvrable.
Furieux, les créanciers de Patrick Drahi jurent, mais un peu tard, qu’on ne les y reprendra plus."#ĿeverageBuyOut #Endettement #Economie #JunkBonds
Sinon, l'article est disponible ici ➡️ : https://mmrnmd.com/index.php/s/kCBoTDAyDcWk6bs
-
Pas d'argent magique pour le peuple qui compte les centimes, mais des monceaux d'argent gratuit pour les milliardaires.
_____
"Malgré les 55 milliards de dettes d’ #Altice, Patrick #Drahi tente de sauver ses secrets et sa fortune
Étranglé par les dettes, discrédité par les affaires de corruption, Altice lutte pour sa survie. Soucieux de conserver sa fortune, le milliardaire a décidé d’organiser lui-même le sauvetage de son groupe, en essayant de tordre le bras à ses créanciers.
Mais ses actifs peuvent-ils suffire à rembourser ses dettes ?
...
"la valeur des actifs d’Altice ne correspond pas ou plus aux 60 milliards de dollars de dettes qu’a levés Patrick Drahi pour constituer son groupe.Peu à peu, le monde financier est en train de réaliser qu’il a cédé aux sirènes de ces hommes d’affaires dont la réussite ne reposait que sur des illusions de l’argent gratuit.
Les mirages se sont dissipés, les bulles sont en train d’éclater, il ne reste que les dettes.
Dont une partie est irrécouvrable.
Furieux, les créanciers de Patrick Drahi jurent, mais un peu tard, qu’on ne les y reprendra plus."#ĿeverageBuyOut #Endettement #Economie #JunkBonds
Sinon, l'article est disponible ici ➡️ : https://mmrnmd.com/index.php/s/kCBoTDAyDcWk6bs
-
Pas d'argent magique pour le peuple qui compte les centimes, mais des monceaux d'argent gratuit pour les milliardaires.
_____
"Malgré les 55 milliards de dettes d’ #Altice, Patrick #Drahi tente de sauver ses secrets et sa fortune
Étranglé par les dettes, discrédité par les affaires de corruption, Altice lutte pour sa survie. Soucieux de conserver sa fortune, le milliardaire a décidé d’organiser lui-même le sauvetage de son groupe, en essayant de tordre le bras à ses créanciers.
Mais ses actifs peuvent-ils suffire à rembourser ses dettes ?
...
"la valeur des actifs d’Altice ne correspond pas ou plus aux 60 milliards de dollars de dettes qu’a levés Patrick Drahi pour constituer son groupe.Peu à peu, le monde financier est en train de réaliser qu’il a cédé aux sirènes de ces hommes d’affaires dont la réussite ne reposait que sur des illusions de l’argent gratuit.
Les mirages se sont dissipés, les bulles sont en train d’éclater, il ne reste que les dettes.
Dont une partie est irrécouvrable.
Furieux, les créanciers de Patrick Drahi jurent, mais un peu tard, qu’on ne les y reprendra plus."#ĿeverageBuyOut #Endettement #Economie #JunkBonds
Sinon, l'article est disponible ici ➡️ : https://mmrnmd.com/index.php/s/kCBoTDAyDcWk6bs
-
Pas d'argent magique pour le peuple qui compte les centimes, mais des monceaux d'argent gratuit pour les milliardaires.
_____
"Malgré les 55 milliards de dettes d’ #Altice, Patrick #Drahi tente de sauver ses secrets et sa fortune
Étranglé par les dettes, discrédité par les affaires de corruption, Altice lutte pour sa survie. Soucieux de conserver sa fortune, le milliardaire a décidé d’organiser lui-même le sauvetage de son groupe, en essayant de tordre le bras à ses créanciers.
Mais ses actifs peuvent-ils suffire à rembourser ses dettes ?
...
"la valeur des actifs d’Altice ne correspond pas ou plus aux 60 milliards de dollars de dettes qu’a levés Patrick Drahi pour constituer son groupe.Peu à peu, le monde financier est en train de réaliser qu’il a cédé aux sirènes de ces hommes d’affaires dont la réussite ne reposait que sur des illusions de l’argent gratuit.
Les mirages se sont dissipés, les bulles sont en train d’éclater, il ne reste que les dettes.
Dont une partie est irrécouvrable.
Furieux, les créanciers de Patrick Drahi jurent, mais un peu tard, qu’on ne les y reprendra plus."#ĿeverageBuyOut #Endettement #Economie #JunkBonds
Sinon, l'article est disponible ici ➡️ : https://mmrnmd.com/index.php/s/kCBoTDAyDcWk6bs
-
Some Services have gotten "Too Big To Fail!" Only Open Data will help us escape.
Learn More:
https://www.korte.co/hqj7
#opendata #cybersecurity #toobigtofail -
"Le Comité d’organisation des Jeux Olympiques et paralympiques (COJO) de Paris 2024, responsable de la gestion d’un budget de 4,4 milliards d’euros, n’a pas réussi à obtenir une couverture d’assurance contre le risque d’annulation des jeux ou de certaines épreuves, selon une information du journal Les Echos de ce 23 juillet 2024. Cette situation découle directement des précédents créés par les JO de Tokyo 2020" https://www.economiematin.fr/annulation-jo-paris-2024-assurance-epreuves (cf https://www.lesechos.fr/finance-marches/banque-assurances/assurance-les-jo-de-paris-sans-filet-en-cas-dannulation-depreuves-2109434) #toobigtofail
-
I warned you about this.
Jerome Powell has already made it clear that, in this downturn / collapse, the "too big to fail" institutions will be just fine; the banks that will fail will be small to medium regional banks. What do you think is the case for businesses in general?
https://medium.com/@sara_causey/the-way-of-the-future-a6ae291222c4
#smallbusiness #toobigtofail #economy #thefed #smallbusinessgoingoutofbusiness #banks #bankfailures #corporaterealestatefailures
-
‚Too big to fail‘ is only true within given circumstances. T-Rex was too big to fail once. And then circumstances changed. Corporations do an awful lot of lobbying work to keep having politicians’ decisions in their favour. Be the comet. Go vote. #EUelections2024 #EUWahl #LobbyControl #TooBigToFail
-
@ProPublica
Yet another example of corporate greed overriding any sense of morality, common sense, or care for anything other than profit. -
The US Government Has a Microsoft Problem https://www.wired.com/story/the-us-government-has-a-microsoft-problem/ #Security/CyberattacksandHacks #Security/NationalSecurity #Security/SecurityNews #TooBigtoFail #Security
-
We all know the #TooBigToFail concept from the #GreatRecession - well #Trump has me feeling like there might be such thing as #TooRichToPay where rich can be more of a class than a bank balance
-
Blockchain Association to Elizabeth Warren: Crypto Can Potentially Disrupt or Compete With ‘Too Big to Fail’ Banks - The Blockchain Association has rejected U.S. Massachusetts Senator Elizabeth Warre... - https://news.bitcoin.com/blockchain-association-to-elizabeth-warren-crypto-can-potentially-disrupt-or-compete-with-too-big-to-fail-banks/ #elizabethwarrencryptolegislation #blockchainassociation #terrorismfunding #elizabethwarren #lawenforcement #toobigtofail #blockchain #cryptolaws
-
> Despite the abandonment.. 700,000 #SouthCarolina utility customers see charges related to the project on their monthly electric bills. Lawmakers.. back and forth.. over the payments, balancing.. customers against the risk of bankrupting #SCANA..
> 2004: The South Carolina General Assembly..Office of Regulatory Staff.. replaces the.. advocate..[for] the public
https://www.chooseenergy.com/news/article/failed-v-c-summer-nuclear-project-timeline/
#VCSummer #NuclearPower #NuclearCosts #NuclearFraud #TooCheapToMeter or #TooBigToFail ? -
#TheGrifters came out after a (not "the) #SavingsAndLoan (manufactured) crisis and used that indirectly in its depiction of greed and the "conned".
It's relevant in this world of #BernieMadoff, #crypto and #NFT's, #Enron, #StockMarkets, #TooBigToFail, all the other cons and con artists we know and acknowledge as such, and all those very many others that are still considered legitimate.
As history proves, the bigger the con, the more people believe and want to get taken...
-
CW: Long thread/48
This is the Great Enshittening, a moment of universal, end-stage platform decay. As the platforms burn, calls to address the fires grow louder and harder for policymakers to resist. But not all solutions to platform decay are created equal. Some solutions will perversely *enshrine* the dominance of platforms, help make them both #TooBigToFail and #TooBigToJail.
48/
-
CW: Long thread/6
*Internet Con* is a "#BigTech disassembly manual." It explains how Big Tech got so big (lax anti-#monopoly enforcement, which led to #RegulatoryCapture, which let Big Tech abuse our privacy, #labor rights, and #consumer rights), and how we can use #interoperability so it's no longer #TooBigToFail, nor #TooBigToJail:
https://www.versobooks.com/products/3035-the-internet-con
6/
-
CW: Long thread/3
The paper sent seismic shocks through both legal and economic circles, and goosed the #NeoBrandeisian movement (sneeringly dismissed as "#HipsterAntitrust"). This movement is a rebuke to #Reaganomics, with its celebration of #monopolies, #TrickleDown, #offshoring, corporate dark money, revolving-door #RegulatoryCapture, and companies that are simultaneously #TooBigToFail and #TooBigToJail.
3/
-
CW: Long thread/3
The paper sent seismic shocks through both legal and economic circles, and goosed the #NeoBrandeisian movement (sneeringly dismissed as "#HipsterAntitrust"). This movement is a rebuke to #Reaganomics, with its celebration of #monopolies, #TrickleDown, #offshoring, corporate dark money, revolving-door #RegulatoryCapture, and companies that are simultaneously #TooBigToFail and #TooBigToJail.
3/
-
CW: Long thread/3
The paper sent seismic shocks through both legal and economic circles, and goosed the #NeoBrandeisian movement (sneeringly dismissed as "#HipsterAntitrust"). This movement is a rebuke to #Reaganomics, with its celebration of #monopolies, #TrickleDown, #offshoring, corporate dark money, revolving-door #RegulatoryCapture, and companies that are simultaneously #TooBigToFail and #TooBigToJail.
3/
-
CW: Long thread/3
The paper sent seismic shocks through both legal and economic circles, and goosed the #NeoBrandeisian movement (sneeringly dismissed as "#HipsterAntitrust"). This movement is a rebuke to #Reaganomics, with its celebration of #monopolies, #TrickleDown, #offshoring, corporate dark money, revolving-door #RegulatoryCapture, and companies that are simultaneously #TooBigToFail and #TooBigToJail.
3/
-
CW: Long thread/3
The paper sent seismic shocks through both legal and economic circles, and goosed the #NeoBrandeisian movement (sneeringly dismissed as "#HipsterAntitrust"). This movement is a rebuke to #Reaganomics, with its celebration of #monopolies, #TrickleDown, #offshoring, corporate dark money, revolving-door #RegulatoryCapture, and companies that are simultaneously #TooBigToFail and #TooBigToJail.
3/
-
CW: Long thread/3
Unfortunately for capitalism, auditing is irredeemably broken. The Big Four auditors (#PWC, #EY, #Deloitte and #KPMG) have merged to monopoly, becoming #TooBigToFail and #TooBigToJail. These four gigantic firms have spun up fantastically lucrative "consulting" divisions that advise companies on how to cheat on their audits and attain incredible (paper) gains.
3/
-
CW: Long thread/32
It's run by Party Secretary Bezos and his Commissars, who decide which goods are can be profitably made and sold.
Companies are disciplined by two forces: competition and regulation. But a company that doesn't face competition swiftly becomes ungovernable, because its centrality makes it #TooBigToFail, while its monopoly profits make it #TooBigToJail.
32/
-
CW: Long thread/10
Economism says that we can allow monopolies to form and harness them to do only good, enforcing against them when they abuse their market dominance to hike prices. But once a monopoly forms, it's *too late* to enforce against them, because monopolies are both #TooBigToFail and #TooBigToJail:
https://doctorow.medium.com/small-government-fd5870a9462e
10/
-
@woz
Einordnung
#Bankenkrise
#Skandal
#UBS #CreditSuisse #Megabank #Staatsgarantie #Finma #Bundesrat #TooBigToFail #Risiko #Haftung #SchweizerGeschäftsmodell #Finanzgeschichte
#Lösungsvorschläge
Alles in der neuen WOZ.